IAB Manual Bookkeeping Levels 1 & 2 Combined (QCF) Course

This distance learning course in Manual Bookkeeping combines levels 1 and 2 into a complete, home learning course accredited by the IAB and recognised on the Qualifications Credit Framework (QCF) (QCF numbers: 601/0473/9 and 601/0480/6).

The IAB Manual Bookkeeping Levels 1 & 2 course covers 13 units of theoretical and practical information on the essential elements of manual bookkeeping. It covers the basics of bookkeeping as well as how to keep financial records using both single-entry and double-entry manual bookkeeping systems.

This course will teach you the fundamentals necessary to progress further to computerised bookkeeping and accounts courses.

After successfully completing this IAB Manual Bookkeeping course you could apply to the IAB for membership and to use the letters 'AIAB' after your name.

This course consists of 13 units.

Level 1:
Maintaining Petty Cash Records

• Completing a petty cash voucher
• Maintaining an analysed petty cash book
• Maintaining the petty cash balance

Making and Receiving Payments

• Processing cash receipts
• Processing cheques received and other forms of receipts
• Making payments in cash
• Making payments by cheque
• Preparing a remittance advice

Preparing and Processing Bookkeeping Documents

• Processing sales invoices and credit notes
• Processing supplier invoices and credit notes

Recording Credit Transactions

• Sales daybook
• Sales return daybook
• Purchases daybook
• Purchases returns daybook
• Total and cross-check the daybooks for accuracy

Recording Receipts and Payments

• Maintaining a two-column analysed cash book
• Reconciling the bank statement with the cash book

Level 2:
Maintaining Petty Cash Records

• Completing a petty cash voucher
• Maintaining an analysed petty cash book
• Maintaining the petty cash balance

Principles of VAT

• VAT registration requirements and regulations
• Recognise different types of inputs and outputs
• Classification of supplies for VAT purposes
• Reporting requirements for different types of VAT scheme

Preparing and Recording Financial Documentation

• Preparing financial documents for credit customers
• Entering sales invoices and credit notes
• Processing customer payments
• Processing and entering suppliers? invoices and credit notes
• Preparing payments to suppliers

Maintaining and Reconciling the Cashbook

• Maintaining a three-column analysed cashbook
• Dealing with discrepancies
• Reconciling a bank statement with a cashbook
• Preparing a bank reconciliation statement

Maintaining the Journal

• Opening a new set of double-entry bookkeeping records
• Using the journal to correct errors disclosed or undisclosed by the trial balance
• Creating and clearing a suspense account using the journal
• Using the journal to record other transactions
• Using the journal to process wage costs

Processing Ledger Transactions and Extracting a Trial Balance

• Process ledger transactions from the books of prime entry
• Transferring data correctly
• Preparing ledger balances and an initial trial balance

Maintaining Control Accounts

• Prepare sales and purchase ledger
• Prepare tax control accounts
• Reconcile sales and purchase ledger
• Reconcile balances on the tax control account

Assessment

The Level 1 Award in Manual Bookkeeping is assessed by a written assessment and an examination. The Level 2 Award in Manual Bookkeeping is assessed in three parts: a knowledge test, written assessments, and an external examination. The exams can be taken at one of IAB's approved test centres located throughout the UK, and they cost approximately £35. We can assist you in finding a test centre convenient to you.

You must successfully pass all assessments, knowledge tests and exams if you wish to gain the formal IAB qualifications. However, if you prefer to study without formal assessment we can provide you with a certificate of achievement proving your completion of the course.

If you choose to register with IAB there will be an additional charge of £80, paid directly to IAB.

No previous qualifications or experience are necessary to enrol on this course. However, we do recommend that you have at least some basic numeracy skills in order to successfully complete this course.